Regulatory Scrutiny on Bank Directors Emphasizes Training Needs

MADISON, Wis., July 31, 2015 /PRNewswire/ -- The role of the Bank Director has become increasingly more complicated in recent years, with greater scrutiny by examiners on Board Members and C-Suite executives to demonstrate knowledge and understanding of compliance and regulatory requirements. On June 9, 2015, Comptroller of the Currency, Thomas J Curry, gave a speech in Washington DC, stating in part that "...(OCC) guidelines require each bank to establish and maintain an ongoing training program for all board members and conduct an annual self-assessment of the board's effectiveness in meeting the standards for the board that are articulated in the guidelines."

However, in today's fast-paced environment, CEOs, Board Members, Directors and other executives at financial institutions face a paradox. Regulators and examiners now demand some baseline understanding of new trends, products, compliance issues and laws, but few executives have the time available to sit through 60-90 minute webinars let alone attend live conferences on these issues.

To address this problem, BankersHub has launched a revolutionary new subscription series called "Executive Briefings". Designed by David Peterson, Chief Strategic Officer of i7 Strategies, Executive Briefings are 4-6 minute videos that address just the key information, ideas and issues that executives need for keeping current. "These are professionally produced, targeted videos that can be watched on any device," comments Peterson. "Having a vast array of topics available on-demand ensures that key executives and directors will always have access to crucial industry information when and where they need it."

The service offers executives at banks and credit unions the opportunity to watch brief, informational videos on topics ranging from money laundering compliance and fraud to new payment technologies and innovations. Videos are updated regularly with many having brief tests to provide banks with evidence of completion and understanding by each Director. "Ensuring the bank's culture supports both compliance with regulatory demands and mitigation of customer and shareholder risks starts with the Board of Directors," notes Peterson. "Executive Briefings is designed to keep top Executives and Directors one step ahead of the industry while sending a message to all employees that training and awareness are everyone's top priorities."